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Has anyone gotten a mortgage modified during a 13?

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    #1

    Has anyone gotten a mortgage modified during a 13?

    I tried calling my 2nd mortgage lender to see about a rate modification. They wouldn't speak with me because I am currently in a 13. They said that my attorney would have to call them. I left my attorney a detailed message, but shocker, haven't heard back from him!!

    Has anyone tried to do this?
    Filed Chapter 13 05/23/08
    Converted to Chapter 7 Jan 2012
    Discharged April 2012
    Tags: None
    #2
    Any advice?
    Filed Chapter 13 05/23/08
    Converted to Chapter 7 Jan 2012
    Discharged April 2012

    Comment

      #3
      1. It is beyond the scope of your attorney's representation to negotiate to modify your mortgage, so I wouldn't expect much help in that regard.

      2. To answer you basic question, the answer is no.

      Is there any possible way for you to lien strip the second mortgage. Is the house worth less than what is owed on the first mortgage?

      Although it is legally possible to modify a mortgage during an active chapter 13, there is no incentive for the mortgage company to do so, thus, I wouldn't pin your financial situation on being able to get this mortgage modified because it probably will not happen.

      Comment

        #4
        Hi there-

        We had originally filed Chapter 13, with the hopes of doing a modification while in the 13. Our mortgage company refused to work with us. They actually told us it would be illegal to modify the loan, which I later found out was untrue.
        I think it is going to depend on who your mortgage lender is. Our's was Countrywide, and they were horrible to work with. I have heard of people getting modifications though, but I think it is rare!!
        Best of luck to you! I truly hope that it works out for you!
        Chapter 13 filed: January 4, 2008 :blink: Converted to a Chapter 7: April 23,2008 :unsure:Letting go of our house in the Chapter 7. :cry:341 Meeting held: May 23, 2008, :angel: No assett will Discharge: July 22, 2008:clapping:

        Comment

          #5
          There is legislation that is trying to be introduced to allow modifications of the mortgage in bankruptcy. Some districts are doing it right now. Middle District Florida has a very proactive Chapter 13 Trustee that has done modifications on quite a few cases.
          Disclaimer: I am not an actor on TV, but I play a BK Paralegal in real life. Nothing I say should be construed as legal advice, or really anything but entertainment. Please seek out professional help.

          Comment

            #6
            I hope we are able to get a modification. We have an Arm that's adusting this year, and because rates are low, we will be ok for now. I'm just worried about the adjustments to come. We don't have the option to refi because we're upside down.
            Filed Chapter 13 05/23/08
            Converted to Chapter 7 Jan 2012
            Discharged April 2012

            Comment

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